Would getting a pair of Maggie 1.4s be an upgrade?

"Would replacing the VR with the 1.4s be considered an upgrade?"

Maggies sound and do things differently from conventional dynamic designs.

I think that would depend mostly on whether you consider the differences you will hear to be an upgrade or not.

Most would consider the potential benefits to be with certain kinds of music, more acoustic forms of music and less electronic/rock/pop types or for HT, at least without use of subs.

"With a tight budget (<$500) can you folks recommend something that will fit my bill? "

Since you have a sub already, you do not need anything too big or extended, but speakers that can do the rest that the sub does not very well. A pair of Triangle Titus monitors can be had for <$400 used. These often get recognition as one of the best speakers around in their price range and I would have to agree. Integrate a good sub well and you have a sound that can contend with the big boys.

Same true with Maggie mmgs which you might be able to find used in your price range.

Another option would be to look for refurbished OHM Ls at www.ohmspeakers.com. You might be able to work a deal to get these newly refurbed from teh factory for $500 or less maybe. I've had mine (with some mods) for over 30 years now and they hold up quite well. I can say from experience that they particularly shine with the kinds of music you identify, specifically Porcupine Tree. Fear Of A Blank Planet in particular sounded so good on mine, that I was tempted to just go with them and ditch my upgraditis at the time.

I used to have a pair of small Boston Acoustics. They were very popular back in the 80's. I had no qualms with them. Its a matter of personal taste.